ArmInfo. VTB Bank (Armenia) proposes to issue a convenient and practical loan option - on the security of available real estate in case of a significant amount of necessity. As the press service of the Bank told ArmInfo, these are AMD loans and they are issued to residents of the RA, whose age at the time of consideration of the application reached 23 years.
According to the source, the repayment term for these loans ranges from 1 to 5 years, the minimum interest rate is 15% per annum, the maximum loan amount is 15 million AMD. As a deposit, real estate is accepted in the cities: Yerevan, Gyumri, Abovyan, Echmiadzin, Tsakhkadzor, Dilijan, Jermuk, Vanadzor, Armavir, Masis. Real estate valuation is carried out by VTB Bank (Armenia). During the whole term of the loan, the Bank insures real estate.
More detailed information on loan conditions can be obtained at the branches of VTB Bank (Armenia), on the Bank's website www.vtb.am, in the Unified Information Service of the Bank on the number 87-87.
According to the Financial Rating of Armenian Banks as of 30.06.2017, prepared by NA ArmInfo, the portfolio of consumer loans for real estate deposit of VTB Bank (Armenia) was 1.9 billion AMD. In the total portfolio of the Bank's consumer loans, the share of loans secured by real estate (without taking into account mortgages) accounts for 3%. VTB Bank (Armenia) is included in the TOP-3 in terms of lending to individuals - 80.1 billion or over 46% of the total loan portfolio of the bank. In total retail lending on the market, the share of VTB Bank (Armenia) exceeds 10%. (The calculated exchange rate of the dram to the dollar as of June 30, 2017 was 480.47 AMD/USD1).
"VTB Bank (Armenia)" CJSC became a participant of the international financial group VTB in April 2004. At present, VTB Bank, the second largest in Russia, owns 100% of VTB Bank (Armenia). The Bank is traditionally one of the leaders of the banking system of the Republic of Armenia in terms of key indicators. The coverage of the branch network of VTB Bank (Armenia) has 67 branches with presence not only in the capital, but also in all regions of the country.